November 29, 2021
Even one of the most ardent and radical Fabian Socialist understood Gold Money. People are gradually rediscovering what the great monetary thinkers have always known: that the best money is stable money because without a stable money we are at the mercy of The Manipulators!
In his "The Intelligent Woman’s Guide to Socialism and Capitalism", George Bernard Shaw declared:
"You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.”
John Maynard Keynes described in 1923:
"Markets cannot work properly if the money, which they assume as a stable measuring-rod, is undependable. Unemployment, the precarious life of the worker, the disappointment of expectation, the sudden loss of savings, the excessive windfalls to individuals, the speculator, the profiteer–all proceed, in large measure, from the instability of the standard of value.”
In The Scandal of Money (2016), George Gilder rightly declared:
"Casting a shroud of uncertainty over all valuation, monetary manipulations shorten the time horizons of the economy. In information theory, the dominant science of our age, when a medium sends a message of its own–static on the line–it’s called noise. Noise in the channel reduces the channel’s capacity to transmit accurate information.”
President James Madison summed up succinctly:
"The only adequate guarantee for the uniform and stable value of a paper currency is its convertibility into specie [gold]–the least fluctuating and the only universal currency.”
One of the most incredible things that the Classical Gold Standard created was one of the most extraordinarily
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